Benchmark indexes broke records on Monday with the S&P 500 gaining 0.3% to close at 2,129 and the Dow rising 0.14% to 18,298.

Construction on new U.S. homes spiked 20.2% in April to a rate of 1.14 million, its fastest pace since late 2007. Economists had expected starts to increase to 1.03 million after a revised 944,000 increase in March.

European markets were higher after European Central Bank executive board member Benoit Coeure said the body would increase purchases under its quantitative-easing program in May and June before an expected period of low liquidity in July and August. The central bank currently has bond purchases set at 60 billion euros a month.

Greece is close to a deal with its creditors after four months of negotiations, according to Greek Prime Minister Alexis Tsipras. Tsipras set a June 5 deadline for new funding to be secured before a 1.5 billion euro repayment to the International Monetary Fund falls due.

Retail earnings for the first quarter came in mixed. The world's largest retailer, Wal-Mart (WMT), missed earnings and revenue estimates in its quarter, prompting shares to fall more than 2% in premarket trading. Comparable-store sales gained 1.1%, at the low end of guidance of 1% to 2%.